Update standard costs (IN502000)
By using this window, you can mass update standard costs. You can view by warehouse the list of the stock items with pending standard costs and update the standard costs for all items displayed in the list or only those you select.
You can specify the pending standard costs for stock items on the Price/cost information tab of the Stock items (IN202500) window and override the costs for a particular warehouse by using the Item warehouse details (IN204500) window. You can specify the pending standard costs for non-stock items in the Non-stock items (IN202000) window.
When standard costs are updated, the system generates adjustments for the items being processed to make the necessary cost corrections.
The top part
Use the elements in this area to select the warehouse where the standard costs will be updated and the latest effective pending cost date.
| Button | Description |
|---|---|
| Process | Updates the standard costs for the stock items you have selected by using the unlabelled check boxes in the Details area. |
| Process all | Updates the standard costs for all stock items listed in the Details area. |
| Element | Description |
|---|---|
| Warehouse | Select the warehouse or leave this box empty to view the stock items for all warehouses. Note This field is only displayed if the Multiple warehouses functionality in the Enable/disable functionalities (CS100000) window is enabled. |
| Max. pending cost date | The latest effective pending cost date. |
| Revalue inventory | A check box that you select if inventory revaluation should be performed during processing. |
The table
In this area, the stock items with pending standard costs are shown in a table, and you can select the items for which standard costs will be updated.
| Column | Description |
|---|---|
| Item ID | The stock item whose pending standard cost can be updated. |
| Warehouse | The warehouse where the stock item is stocked. Note This column is only displayed if the Multiple warehouses functionality is enabled in the Enable/disable functionalities (CS100000) window. |
| Inventory account | The asset account to be used for the adjustment generated in the process of updating the standard cost of the item. |
| Inventory sub. | The corresponding subaccount to be used with the inventory account. |
| Pending cost | The value set as a pending cost for the item. |
| Pending cost date | The date selected for the stock item as the effective date for the pending cost. |
| Current cost | The currently effective standard cost assigned to the stock item. |
| Standard cost override | An informational check box that indicates (if selected) that the standard cost of the item may be overridden at the selected warehouse. |